I think, less than an article with more factual information, this one’s going to be an informal reflection of sorts.
Not so long ago, quite recently actually, Abhijit Bannerjee, a ford foundation developmental economics professor at MIT, won the Nobel peace prize along with his wife, Esther Duflo and Michael Kremer. They were awarded for their work in fighting global poverty.
I feel a sense of shame to have never heard of these names before, especially being someone who wants to get into the economics field. Nevertheless, I don’t think I’ll be letting any more economic icons pass over me any time soon. The b
ook Poor Economics, by the couple, was what originally brought their improved efforts in fighting poverty, into the limelight. It fascinated me to see that two people from very different parts of the world, both geographically, and socially, were brought together, with almost the same goal in mind. However, what really struck me was how they even arrived to that goal.
I learn about it in school all the time. There isn’t one thing we do that doesn’t have the word “Empathy” in it, at Indus (International school, Bangalore). But, more times than less, it flies right over our heads, as something that isn’t as important as they’re making it out to be. However, if one really thinks about it, how can we do anything without empathy? I don’t believe Mr. Bannerjee and Ms. Duflo would have gotten nearly as far as they have, if they hadn’t identified and fully comprehended the gravity of this problem, and felt the urgency to solve it in the best way possible. They addressed the bane of it all before anything else; the clichés about poverty & the poor, that are so widely accepted. Which then lead to the creation of such simple policies that offer nothing but a short term satisfaction to everyone involved, especially the less fortunate. Their story as to how they arrived to this issue added a personal touch to the book which perfectly complimented their understanding and explanation of the depth of poverty, and the realistic solutions that they have to offer.
One of my favourite parts about economics is its ability to really transform the world. With global leaders driven to bring their nations’ economies to the top, economists, and governments are in the position of power to change the world for the better. Many deem this science to be solely about the monetary aspects of the economy, but it’s so much more than that. I am in awe of Mr. Abhijit Bannerjee and Ms. Esther Duflo’s work, and immensely proud to say that they’ve definitely earned a spot on my personal list of the most influential people in the world.
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